YOU MAY BE ASKED FOR MORE INFORMATION IF YOU CLAIM CERTAIN CREDITS

Don't be surprised if you're required to answer additional questions this year if you claim the Child Tax Credit (CTC), Additional Child Tax Credit (ACTC) or American Opportunity Tax Credit (AOTC).

WHY YOU SHOULD CONSIDER USING HRAS TO HELP EMPLOYEES WITH MEDICAL COSTS

A health reimbursement arrangement, or HRA, is a benefit plan you can offer to your employees to reimburse them for medical expenses that are not covered by an insurance plan.

TAX RECORDS – WHAT YOU SHOULD KEEP

It's that time of year when you are getting ready to sort out last year's financial records and prepare for this year's recordkeeping. Do you know what you should keep and what can you throw away? Here are some suggestions.

THE REAL DEFINITION OF "DEPENDENT" MAY SURPRISE YOU

Many people think of a "dependent" as a minor child who lives with you. This is true, but it's important to remember dependents can include parents, other relatives and nonrelatives, and even children who don't live with you.

WHO NEEDS AN "EMPLOYER IDENTIFICATION NUMBER"?

There are a few qualifications that determine if you need Employer Identification Number (EIN) from the IRS.

• If you operate your business as a corporation or partnership.
• If you file reports for employment taxes, excise tax, or alcohol, tobacco and firearms.
• If you have one or more employees.
• If you have a self-employed retirement plan.
• If you operate as any of several other organizations.

If you need assistance, please contact our office at (518) 798-3330.